WASHINGTON D.C. — (03-11-21) — White House press secretary Jen Psaki announced on Thursday that Americans could start receiving $1,400 direct deposit payments in their bank accounts as soon as this weekend.
The announcement took place after President Biden signed the legislation authorizing the payments earlier in the afternoon.
“People can expect to start seeing direct deposits hit their bank accounts as early as this weekend,” said Psaki during today’s press briefing.
Psaki added that those payments are “just the first wave” and that more will be issued over the next several weeks.
Biden on Thursday signed a $1.9 trillion coronavirus relief package that provides for payments to most Americans of up to $1,400 per person. Psaki said that 158.5 million households can expect to receive payments.
The speed at which the $1,400 payments will be issued is said to be similar to the speed at which the IRS started to issue the payments of up to $600 that were enacted back in December.
Those payments started to land in people’s bank accounts two days after former President Trump signed the legislation that authorized them.
We are sure to see retail sales show a spike next week after Americans begin receiving their much needed stimulus payment.
Article by: Paul Goldberg, Staff Writer
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